you know, what's the meaning of the word is as bill clinton once said. what are the mention of proprietary hedging, trading. there's a lot of wiggle room, i think, in these regulations. so it will be a while before the impact is really felt, but i would agree that longer term this will have a negative impact on bank profits. >> and see whether it opens up the market for european banks to compete better. greg, stay there. we'll come back to you fairly shortly. for more on today's volcker rulings, stay tuned to cnbc. we'll have more on why michael is voting no on the proposed rule and its current form. >>> a u.s. budget deal might come today, way ahead of friday's deadline. we'll be back with greg in d.c. he says even a wimpy deal would be important to investors. we'll find out why, right after this. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one rea